What is Forex and what does it eat?
Forex, Forex, Forex … Modern man faces this word daily. People in expensive suits on television screens are calling to make money on Forex with them. Girls of model appearance on billboards attract new users to Forex brokers. Graphs, quotes and tables that are incomprehensible to the common man are constantly spinning on TV and online, and calls to invest, make your money work, etc. heard on all radio stations. What is Forex really? Is it true that you can earn money on it, and if so, how to do it? Let’s figure it out.
So, the word Forex (Forex), is an abbreviation composed of two words – FOReign EXchange (currency exchange). And its name is fully consistent with the principle of working with him.
Initially, Forex was conceived as an ordinary exchange office on a global scale, while enterprising people did not realize that it turns out that you can make good money on currency buying / selling operations if you correctly speculate on it. Currency exchange rates are extremely unstable and the principle “Buy cheaper, sell more expensive” here is revealed in all its fullness.
Only you need to buy and sell not goods, and not resources, but the currency of different countries. In simple words – bought $ 100 at the rate of 50 p. for the dollar, and already sold at the rate of 60 rubles. As a result, the net profit from the sale of one dollar equals 10 rubles. 10 * 100 = 1000 rubles. But the volumes of currencies sold here are hundreds of times larger, imagine what prospects are opening up. Read more about this in the article “Forex Benefits”.
The next question is: how do you even get on this Forex and start working on it? The answer is simple – access to Forex is provided by special companies, so-called Forex brokers. You can find them on our website, they are all reliable and time-tested.
Passing the registration procedure at the selected broker, you open your personal trading account with which you will work. More information about brokers in the article “Forex Participants”.
To work, you also need a certain software – a trading platform. The most popular of them is Meta Trader 4. We will tell about how to work with it a little later, and now we continue the review.
Access to the broker is from anywhere in the world where there is Internet, and all you need to work is a computer with a platform installed on it.